Registered number
09920612
SMART POTATO LTD
Filleted Accounts
31 May 2023
SMART POTATO LTD
Registered number: 09920612
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 440 537
Current assets
Debtors 4 14,000 14,000
Cash at bank and in hand 2,116 1,292
16,116 15,292
Creditors: amounts falling due within one year 5 (38,111) (13,805)
Net current (liabilities)/assets (21,995) 1,487
Net (liabilities)/assets (21,555) 2,024
Capital and reserves
Called up share capital 100 100
Profit and loss account (21,655) 1,924
Shareholders' funds (21,555) 2,024
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MS LARIS POLAT
Director
Approved by the board on 21 February 2024
SMART POTATO LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Equipment 18% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment
£
Cost
At 1 June 2022 1,449
At 31 May 2023 1,449
Depreciation
At 1 June 2022 912
Charge for the year 97
At 31 May 2023 1,009
Net book value
At 31 May 2023 440
At 31 May 2022 537
4 Debtors 2023 2022
£ £
Trade debtors 14,000 14,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 900 1,800
Corporation tax liability / (asset) - 62
Other taxes and social security costs - 204
Other creditors 37,211 11,739
38,111 13,805
6 Other information
SMART POTATO LTD is a private company limited by shares and incorporated in England. Its registered office is:
FLAT 3, FLOOR 1
33 ST. LUKES ROAD
LONDON
W11 1DD
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